Scared but Determind

[maroondevo52]

Somewhere in the depths of CAG there is a template for cancelling CPA's. Anyone point me in the right direction ?

 

http://www.consumeractiongroup.co.uk/forum/content.php?850-Continuous-Payment-Authorities-How-to-stop-them#comments

[citizenB]

If you are experiencing difficulty in repaying your debts, CASHflow is a way for you to negotiate affordable repayments with your creditors. Before you can use CASHflow, you must have spoken to one of the free advice agencies licensed to offer CASHflow to their clients. The advice agency will start by talking to you about all of the options available, and can help you to decide if CASHflow is the right one for you.

If you decide to use CASHflow, you will be provided with all of the tools you need to be able to complete your own financial statement and negotiate offers of repayment with creditors yourself. This will enable you to stay in control of your situation, but still have support from an adviser at any stage if you need it.

You can contact a local advice agency to check if they offer CASHflow. You can find a list of free advice agencies that are near to you by searching for a money adviser in England or Wales, Scotland, or Northern Ireland.

Alternatively, you can call National Debtline on 0808 808 4000

CASHflow: http://www.cashflow.uk.net/

National Debtline: http://www.nationaldebtline.co.u k/

https://www.mymoneysteps.org/

Also as highlighted in the CAGnewsletter...

 

There is the new CAB system that might also be worth a look, this system saves all your details, has guidance allowance figures to work with if you wish and you do not need to be invited / signed off etc with this system, just log in and away you go (see below)

(Also, there are a number of other self help tools and systems around so might be worth a little exploration if this is what you eventually decide on.)

http://mymoney.nedcab.org.uk/moneyadvice/

http://mymoney.nedcab.org.uk/moneyadvice/ (example of completed dmp)

 

 

budget sheet used by many caggers

 

Ellens Budget Sheet.xls

[FrugalJo]

Thank you, saw that sticky read through it. But I did see a letter template to your bank that I should have bookmarked. I'l play with some words and sort one out.

 

My next question is, as I live in my £1000 OD in my now 'toxic' account I want to write to my bank with the notification cancellations of CPA's, to the effect that any honouring of these payments would put me in unauthorised overdraft. As I'm trying to sort out my finacial difficulties I would like to come to agree a repyment plan with them for the OD.

 

I know this is a little off the track of PDL nightmares but would like to know if anyone has been in a similar situation.

[FrugalJo]

Right, card cancelled. Letter winging its way to bank. All PDL's notified of situation.

[citizenB]

With regard to your o/d with the bank.

 

I would simply advise your temporary financial hiccup and ask if they would accept £X amount until such times as you are in a better situation.

 

Ask if they could perhaps see their way to freezing any interest/charges for a period of perhaps 6 months. That you will keep them informed of your position.

 

HTH.

[FrugalJo]

Hi Citizen

Thanks - Exactly what I have done, hanging around here I actually get it

[citizenB]

[FrugalJo]

Update

Speedeloans - agreed repayment plan in hours

Wonga, PDUK responded and repayment plans in place within 24 hours.

 

This leaves me with the three nightmares that are Toothfairy, Minicredit and PDE. The former are playing nasty already, the last two are no show yet.

[renegadeimp]

Ahh the nasty 3. Btw, it seems PDE and wonga could be the same company, as the same return address is listed on their correspondence.

 

Just keep at it, sending the same letters etc. Also you could say that your other creditors have already agreed repayment rates, and it would be very unfair for you to prioritize a low priority PDL loan over them. ( Don't say what the other debts are though)

[FrugalJo]

I wish they were the same company, two very different approaches. Wonga were no problem, PDE don't think they've even warmed up yet.

 

Situation so far :

Wonga replied yesterday, offering an easy repayment plan, however

they want to use the now 'toxic' account that I have removed all CPA's from.

not very willing to accept Standing Order or a direct cash deposit. So my

only way forward is a prepaid debit card.

 

Toothfairy/Marshall Hoares, Their

response as expected a bullying email. Debt has now increased to £1304 in 24

hours. Have contacted Marshall Hoares via their webform (which in itself is

a mammoth task with SQL syntax errors) asking for a complete breakdown of

charges, and advising that if co-operation is not forthcoming then I will be

lodging a complaint - which I will anyway.

 

PDE first email received today, wanting me to phone them - not going to

happen. Sending an email requesting repayment plan again in response.

 

PDUK a letter and an email wanting full balance via letter, repayment plan

by email (shrug).

 

Minicredit - think they are waiting for default.

 

I am sleeping easier...

[renegadeimp]

regarding your Toothfairy MH debt, i'd actually dispute it and play them at their own game. I wouldnt be surprised if theyve even bought the debt off Toothfairy and are trying it on. Unfortunately you wont know until you request a SAR.

 

Also, lodge a complaint with toothfairy, then depending on their answer ( they have 8 weeks to reply) you can contact the FOS. Also, make sure you send an email to stella creasy MP about them, and also complain to the OFT as they are very heavily investigating the PDL's atm, and stella has actually tabled an amendment next week in the house of commons to get the specific law changed that the PDL's exploit.

[FrugalJo]

3 out of 6 are agreeing repayment, all this in less than a week. Feels good to get it sorted.

 

Not sure where I am with PDUK.

Minicredit and payday express are just not forthcoming.

[FrugalJo]

Just to add. None of the companies concerned have had access to my toxic account. Minicredit tried and failed. Have to wait and see what PDE do next week...

[lisa6367]

Hi FrugalJo,

 

I am about to default on my speedeloan payment tomorrow. How did you get them to arrange a repayment plan for you? I have heard they are a nightmare!

[renegadeimp]

Just keep persisting. Tell them that you cant make the repayments as agreed, and you want to come to a repayment plan that pays off the debt, not just interest each month. Make sure YOU decide the terms of the repayment plan. Not them.

[lisa6367]

Hi,

 

My worry is though that they won't give me their bank details as every post i have read about them say they have persisted that you can only pay by debit card and also they constantly phone your employer I have to say i am really quite scared about tomorrow!

[renegadeimp]

They cant not give you the bank details unless theyre willing to send giro slips, which have the account number on it already. Theyre most likely wary of giving them out, because the details will end up on sites like this one, so everyone will try to send them payments that way and at a frequency they choose. Whilst with their current method, they can debit your account as and when they choose by exploiting the Continuous Authority on a Direct Debit agreement or on a debit card payment scheme.

[FrugalJo]

Hi Lisa

I've sat down and offered an honest amount I can afford.

 

My main arguements were:

 

I cannot afford to repay the loan as it stands in full.

I refuse to continue to defer my loan under present agreement as I am wasting money on a monthly basis.

I withdraw my permission for you to debit my bank account with any amount via any form of payment request. I have advised my bank of this instruction.

The phone contact thing worried me too, but to my knowledge non of them have yet tried to phone me at work or home.

Feel free to use this or reword as necessary:

Upon receipt of this email I require ALL communication from either yourselves or your representatives to be in the form of email or letter. It is my legal right to have all correspondence in written format should i be required to form a defence in a court of law.

 

Please note I do not wish for you to contact me on my work number, or ring me on the mobile before 6pm as I and my colleagues are exceptionally busy at work and I do not have the time to take personal calls. I must stress, this is a requirement and not a request.

 

Also if they are not forthcoming with a repayment plan I'm throwing this at them. Waiting for PDE and Minicredit to reply to this ...

 

OFT guidance states that 'when a person contacts the lender and says they are in financial difficulty, then the lender must take that under advisement and come to a mutually agreed repayment plan'.

Should this situation continue without any cooperation from (insert pdl co name) I will be complaining to the relevant authorities.

 

 

I've learnt all this on here so keep going Lisa, don't give up, wish I'd done it a month a earlier.

 

[lisa6367]

Thanks for the great advice! So have you now come to an agreement with them and did they give you their bank details in the end?

[renegadeimp]

If you need a simple letter template, use the letter library on this site. It spells out the legalities, so they cant contest it.

[FrugalJo]

Thanks for the great advice! So have you now come to an agreement with them and did they give you their bank details in the end?

 

Yep, they were the first to comeback, literally within hours, email had account details and asked when would I be making my first payment.

 

I did want them to confirm the frozen balance before I committed to any plan.

[lisa6367]

Well I hope I have the same experience as you. I have now sent them an email so fingers crossed. How did you cancel the continuous payments authority with your bank? Did you phone them? Just to let you know that I have come to an arrangement with pde for £45 a month for 10 months with interest frozen. I did have to constantly email them as they ignored most of my emails but after about 50 emails they gave in and set me up with a plan! I can send you the email address of the lady who dealt with my plan if you like?

[citizenB]

lisa, if you telephone the bank to cancel the CA, you should still write and confirm. IMHO, if you are able to - write the letter and hand it in to the bank. That way you have proof should it ever be required.

[lisa6367]

Ok thanks for your help I shall get a letter drafted up.

[lisa6367]

Is there any templates on here by the way?